Tax Filing Status
Are there any particular rules of thumb for deciding whether to file separate or married /joint status on your income tax filings for a married couple?
Terry Says
Well, typically it costs more in taxes if you file “married, filing separately.” There are a number of reasons people choose this filing status, despite the additional costs. Typically, that might happen when a couple is in the middle of a divorce, and one or the other does not want to sign a joint return, and take on that liability. Or a spouse may have a child support liability from a previous marriage that could result in a garnished tax refund. If you are in doubt, consult a CPA or professional tax preparer.
